Marketing is becoming more sophisticated than ever thanks to the internet. The right strategy allows businesses large and small to see exactly where site visitors are spending their time online, allowing them to create bespoke campaigns that can increase the quantity and quality of leads. So, can you achieve the same level of analysis at a trade show?
Exhibition shows can be fantastic opportunities for you to engage potential customer and produce a real ROI for your business. Download our guide on how you can make the most of your exhibition with an effective strategy.
Trade show lead generation may not be as refined as some of the techniques you may see on the web, but results can still be measured and improved if marketing managers take the time to build the right strategy, set the right goals, and prep the right team in the lead up to each exhibition.
What is lead generation?
Everyone’s definition of success will be different at a trade show. According to Deloitte, 63% of surveyed companies want to promote their capabilities and awareness, 51% want to introduce new products and just 21% look to generate immediate sales orders.
What’s more, 46% of companies attend industry exhibitions to get sales leads from new prospects, while 36% want to improve their relationships with existing customers.
The definition of a lead is also highly subjective. From personal experience, we know that some companies consider a name and a phone number or email address as a lead, while others require a whole collection of other data points.
For this reason, the first step to improving trade show lead generation is creating a bespoke strategy that clearly defines your lead requirements and lead generation goals.
Coca-Cola transforms its trade show lead generation
Coca-Cola is just one of the big companies out there that have turned trade show lead generation into an almost-exact science.
Previously, the company measured trade show success by opinions rather than facts. “The only measure we had was qualitative feedback from senior executives,” Rod Tabert, corporate director of marketing communications, recently told Exhibitor Online. “Either they thought it was a great show or they didn’t.”
Then in 2003, the fizzy drinks giant implemented a bespoke measurement strategy for trade show success, based on revenue, cost savings, customer-relationship management and promotion. Coca-Cola can now evaluate improvement between shows, refine its strategy and better justify costs. What’s more, these metrics were already used by different departments at Coca-Cola, so trade show measurement became transparent and relevant to the rest of the company.
“You have to be able to identify and then quantify trade show results in a way that either marketing or sales is looking for,” explained Tabert.
Building stronger relationships with trade show lead generation
Coca-Cola hasn’t done this overnight. They’ve worked incredibly hard at each and every trade show they’ve visited, setting specific goals that matter most to them in regards to enhancing product visibility and building stronger commercial and consumer relationships.
However, return on investment can be incredibly difficult for marketing managers to qualify after an exhibit, especially if they’re working to a budget and don’t have access to the resources available to a brand like Coca-Cola.
How to qualify better sales prospects at trade events
Coca-Cola ‘s trade show formula is entirely bespoke, and plays an instrumental part in qualifying the company’s successes from each and every exhibition they attend.
‘Bespoke’ is the key word to focus on here. The more time any company dedicates to outlining its goals and working on a creative growth strategy, the more likely it is to experience a positive change in regards to trade show lead generation.
However, this can be tough for marketing managers who are short on time, working with a modest budget and expected to achieve the best standards possible for business growth. Do they really have the time to research and define the more technical elements of exhibition marketing and reporting?
Working with an experienced, professional and personable exhibition specialist can help companies to better define and refine goals when exhibiting. The right strategy will help you to better target valuable prospects, gain a greater understanding of what they’re looking for, and create compelling reasons for them to want to see you again.
Do you know what trade show lead generation really means to your company? Do you need to refine your strategy to reach your goals? Why not work with a trade show talent provider that cares as much about your business’s growth as you do can. Contact Expo Stars to find out more.